All Forum Posts by: Eric M.

Colleagues: I have a cash deal in Baltimore City that both the buyer and seller need to have closed no later than 12/31. In a perfect world, it would close on 12/28

The buyer is paying cash.

If you know of a reputable title company that can meet this timeframe, kindly reply and let me know. Self-referrals are welcome.

I am a licensed MD agent, but our normal title company is concerned about making this time frame, so we are looking for other options. Thanks!

Thanks @Andrew Postell. Will try that.

Colleagues: I have a cash deal in Baltimore City that both the buyer and seller need to have closed no later than 12/31. In a perfect world, it would close on 12/28.

The buyer is paying cash.

If you know of a reputable title company that can meet this timeframe, kindly reply and let me know. Self-referrals are welcome.

I am a licensed MD agent, but our normal title company is concerned about making this time frame, so we are looking for other options. Thanks!

@Account Closed I was the OP several years ago. We ended up going with just a "flat fee" of less than $1,000 per year for each year I was using the funds. Family member is happy, because it's "free money" for not doing much, and I am happy because I can use the funds. If and when family member also wants funds from the HELOC, the fee will go away, and we agree to work in good faith to share the limits. It has worked out well.

Thank you. This quote was referred to me by my property management team, and I must be frank when I say that I am a bit concerned that they did not find more competitive quotes. Appreciate the responses @Ian Barnes and @Perry Welling.

I have a two unit property in Baltimore City. It was vacant for about 18 months. Electric was "powered up" on the new boxes 6 months ago. Despite billing me a flat fee for the gas hookup for the last 6 months, BGE now tells me that the gas hookup is not active. Fine. I call and they send out a tech to hook it up. Tech arrives, and says that, because of the vacancy, we need a pressure test by a licensed plumber before he can hook it up. Plumber quotes me $1000 for an initial test, with a possibility of 2 to 3 times that depending on result of the test. 

Questions:

1. Anyone ever hear of a REQUIRED pressure test to turn on the gas? I'm not aware of any written policy on this from BGE. 

2. Does the $1,000 quote for the gas test seem reasonable? 

My BS meter is tingling on both of the above points, but rather than pass early judgment, I would love to hear from the experts! 

Much appreciated!

I like Reservoir Hill. No boards, and I think the areas East of Eutaw are pretty good with some nice overall values. I don't know if I would go bonkers trying to flip in the neighborhood, unless there was a REALLY good opportunity but I think it's a stable area for rentals, for sure.

HELOC would be my call as well. Only problem is that they are sometimes pretty slow to close. Otherwise, I would seek hard money.

Personally, I think you're better served learning the areas that interest you on your own. Most agents will appreciate working in or searching two to three neighborhoods, as opposed to an entire city. Drive around for a day, check the various websites, etc. You'll probably find that several areas start to become your preferred spots. Bringing an agent in at that time is probably the better choice.

Baltimore is a nice place for buy and hold, in my opinion, but you need to be extremely careful about the neighborhoods in which you invest. "Avoid the boards," (vacants) as they say. There are quite a few threads on this, and I'd encourage you to search the archives. Best of luck!